Wells Fargo names diversity head as probes mount

Wells Fargo announced the appointment of Kristy Fercho as head of diverse segments, representation, and inclusion. She takes up the role as the Department of Justice and Securities and Exchange Commission investigate the bank’s diversity hiring practices.

Fercho, who has served as Wells Fargo’s head of home lending for two years, will remain in that role while the company conducts a search for her successor. She will transition to head of DSRI fully once her home lending successor is named.

She will also join the company’s operating committee, effective immediately, and report to Chief Executive Charlie Scharf.